Rolling US Economy Into The Shitbin Thread

I remember when the generic Irish middleware company my friends worked for had 'end of JavaOne' party and hired Spinal Tap.

Yeah that kind of thing still goes on. I am going to Scottsdale Arizona next week for example lucky me. But that WeWork trip is kind of out there for a company that loses money and leases more real estate in Manhattan than any other entity.

We went to Vegas last year and there were so many complaints from engineers about how much it cost and how awful Vegas is that this year they’re sending half of us to Scottsdale and half to Seattle.

In 2018 is it still super-expensive to get the Red Hot Chili Peppers?

caek I can't believe you're not coming to Seattle, rude

in the neighborhood of $1,000,000 xp

haha, i didn't get any say, but truly i am all about the 0% humidity and golf courses and rotting from the inside so scottsdale is perfect

https://www.bloomberg.com/opinion/articles/2019-01-08/wework-gets-a-visit-from-financial-reality

this is not a company that should be flying a global workforce to one of the most expensive conference cities on earth

This is a firm whose valuation only really makes sense if it grows at double-digit rates for years to come, while managing to maintain its rental prices even if the era of cheap financing comes to a halt.

lol

i had a desk at the wework in DTLA for november. i needed it for a specific project, but gave some thought to keeping it. in the end, the sheer amount of sponsored content events that they were clearly getting a cut of was too much. the final straw was someone who'd paid wework to have the opportunity to sell her custom kimonos in the coffee area. a company that needs to shill custom kimonos getting softbank money and signing 99 year leases seems like a top of the market signal as much as the apple letter about china.

I like looking up the wikis of the founders of these types of companies. Always weird tidbits.

FT says Ivanka Trump's name is being floated to head World Bank. https://t.co/wbNL7AcAym

— Alan Rappeport (@arappeport) January 11, 2019

>i had a desk at the wework in DTLA for november.

a friend stayed at a welive for a while. let's just say that several of the people that she thought were renters there, supporting themselves by offering friendly dogsitting / grocery services, she learned later were all on payroll. my friend is on the trusting side, but I think her confusion was encouraged; the intent is to help you feel more 'at home' in this place than at your average hotel. it's an odd trade off; I can see how you could argue this minimizes some power imbalances / dignifies certain kinds of work. it is also obviously pulling off the trick of making certain relationships even more invisible: there's no 'help', only fellow contractors just like you. but those welive rooms don't rent for cheap.

and the phrase 'complimentary disco' should strike terror into anyone's heart

Only thing worse: 'mandatory disco'

“mandatory disco” is a dystopia i can lol tho

just a little paper trade here, but see how on the SPY we seem a little overbought and keep butting up against 259 but can't break it, this would seem to be a fairly obvious opportunity for a short swing trade. But given that, but also how this market seems to like to clear out all stoplosses on "obvious" trades, I think the best call in the very near term is long SPY here to at 258 with 261 target in the next 2 days let's see

objective met, now look for a little spike today or tomorrow to go short imo

Oh nice. I have been trading in and out of a handful of equities (SQ, ROKU, BABA, some pot stocks etc.) since the beginning of the year but it's insane how well the market has been doing so far. I've missed out on some gains but I just don't want to be stuck holding anything.

i trade penny/pink sheet stocks actively and it's crazy how volatile pot stocks (on those exchanges) have been. and how much money people have made, and lost. the first quarter of 2014 was the most prosperous of my life because of the MJ (which has become shorthand for marijuana) craze, which really hit the penny stock market. i know one guy who grew a 5 figure account to 7 figures in the first 5 months of that year by just holding pot stocks.

(holding as opposed to selling -- if I had just held all mine to the top, instead of selling early, I could be retired)

People have no idea how easy it will be for legalization to create a massive oversupply of weed.

The people who genuinely make a fortune on weed will be those who make their fortune off the other people who want to make a fortune on weed.

Some local medical cannabis upstart literally just sold a few weeks ago for six hundred million dollars.

The people who genuinely make a fortune on weed will be those who make their fortune off the other people who want to make a fortune on weed.

just like the gold rush or the dotcom boom

Oh I remember that pot penny stock craze, athough I thought it was earlier than 2014. I speculated a bunch but they were all busts.

I've talked with a couple of people who have invested in the industry, and their faith/money is based less in the ultimate success of the product/industry and more about gambling the things they invest in get bought out by Budweiser or Pfizer or whatever.

I just like market manipulation due to low float. It's a game.

@Yerac if you have the trading bug you should check out nanocap/pink sheet trading, it can be fun. Early last week I bought a million shares of VYST at .0007, and sold for a good profit in the teens and finally .0021... But if I'd held you'll see it went to almost .02 this week and my initial $700 investment would have been worth $18k lol.

I don't really trade OTC/pink sheets anymore. Although I have in the past a little, but I usually keep my portfolios in about 20 equities (mostly tech and biotech, retail, some randoms) for dividends or swing trading and then do most daytrading in commodity lev etfs/etns.

Yeah I'm addicted to the otc trash tbh. Big board/blue Chip stuff is infinitely more liquid (not to mention marginable) but I've found I cannot consistently outwit the HFT's/ hedge fund managers/Goldman trades/aliens that run it

Goldman traders i mean

I only had to have a couple of things go illiquid and have paid to get it removed from my account before I decided it was too much hassle. Plus I don't like things I can't premarket or afterhours trade.

anyone know anything about Marcus by GS or similar online savings high APY accounts?

I just did a cursory look because I didn't know they were offering regular savings accounts/cds now. The rates look good. If you just want to deposit and leave it, it seems like a good choice. The last time I reviewed these I opened a Schwab checking and savings which I never funded. But it was primarily for the no fee worldwide atm usage.

I do that with Ally. They currently pay 0.25% less than Goldman and they’ve been one of if not the top earner all the time I’ve banked with them. Also they’re not Goldman Sachs you know?

Oh, does Ally have a high rate? I have one account with them from when it got moved over from Tradeking. I was actually thinking of moving it to Interactive, so all my accounts would be there, but I kind of hate their platform.

Places I have had an account: E*Trade, TD Ameritrade, Morgan Stanley, Scottrade, Tradeking, Ally whatever it's called now, Interactive Brokers, Washington Mutual, Chase.

Ally has a checking and high interest savings account. They have a broker thing but I don’t know much about it. And I don’t believe the checking account is remarkable. But the savings account is the one all the reddit personal finance and early retirement needs recommend.

turns out ally's savings rate is 2.2% not 2.0%, which must have happened in the last couple of days. ally isn't a fuzzy credit union, but it's not goldman sachs.

I have a Marcus account now--I liked it because it was really easy to connect with my main bank account (maybe Ally is like that too).

I have most of my money now in either interest-bearing savings accounts or CD ladders (which don't get a huge amount more interest than the savings accounts, 2.5-3%). I have maybe 10-20% in index funds and a bit in bond funds too. A friend told me she has most of her money in T-bills. Sentiment seems pretty bad right now.

Thank u all. Mostly just interested in a cash hole w my partner and online/non brick and mortar seem to have dope rates. I figure I’m participating in the annoying parts of capitalism so Goldman vs Ally and that .15 percent might be worth it. They’re all crooked deep down

and the phrase 'complimentary disco' should strike terror into anyone's heart

― Milton Parker

they turned Supertrain into a hotel?

People have no idea how easy it will be for legalization to create a massive oversupply of weed.

― A is for (Aimless)

no, no. i'd say we're pretty aware of exactly how easy it is here in portland.

fwiw my CD ladder is through a Fidelity account -- they made it pretty easy to set up. I have an old rollover IRA there and also set up a brokerage account there.

https://pbs.twimg.com/media/Dxdj4a6VsAAm2ue.jpg

We both have our own retirement/long term accounts so the idea was for a mattress/emergency fund that would be more liquid than a CD xp

My CU pays high (4%ish) interest on the first $500 in each of my primary checking and savings accounts which for the amount of cash I have there results in a fairly generous effective APY.

(In lieu of debit card rewards I suppose)

is that the actual Storm Shadow or just a Storm Shadow cosplayer

https://www.bloomberg.com/news/articles/2019-03-22/u-s-treasury-yield-curve-inverts-for-first-time-since-2007